MarketsFarm — Canadian farmers grew less canola and durum than originally thought in 2022, but more barley and oats, according to updated production estimates from Statistics Canada released Friday. “There were both bullish and bearish surprises,” MarketsFarm Pro analyst Mike Jubinville said. While canola production of 18.174 million tonnes was still up considerably from the
StatCan data show smaller Canadian canola, durum production
Report also logs more barley, oats than previous estimates
Feed weekly outlook: Looming corn imports to keep lid on Prairie barley
MarketsFarm — Large shipments of corn from the U.S., slated for delivery to Alberta’s feedlot alley, should keep domestic barley prices under pressure going forward, according to an analyst. “The barley price here will gradually decline,” said Errol Anderson of Pro Market Communications in Calgary, adding that up to 30 unit trains of U.S. corn
Pulse weekly outlook: Yellow peas under pressure from large volumes
MarketsFarm — Large volumes of yellow peas being delivered into commercial hands have put some pressure on values, although prices remain reasonably solid. Green and maple pea bids are stronger, but movement is more limited in those markets. End users were active buyers of yellow peas in recent months, but many are now filled up
Fund position back to net short in canola
MGEX wheat also shifts to net short: CFTC
MarketsFarm — Heavy long-liquidation in ICE Futures canola saw the managed money speculative position flip back to a net short after a brief flirtation with a net long, according to the latest Commitment of Traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The weekly report was delayed one day due to last
ICE weekly outlook: Canola’s sideways market nears low end of range
January down last six sessions
MarketsFarm — ICE Futures canola contracts slid lower during the week ended Wednesday but remain stuck in a sideways trading range overall. The January contract has held within a range from $800 to $900 per tonne for the past five months, with the market still well within that range despite losing over $50 per tonne
Ocean freight rates under pressure
Container rates also lower
MarketsFarm — Ocean freight rates have come under pressure over the past month, nearing their lowest levels of 2022 as mounting COVID-19 cases in China, along with increased restrictions in the country, have contributed to concerns over declining demand. The Baltic Dry Index (BDI), a major indicator of bulk shipping rates, settled at 1,149 points
ICE weekly outlook: Premium showing in front-month canola
'Surge' of farmer selling expected in January
MarketsFarm — The ICE Futures canola market held rangebound during the week ended Nov. 16, with the widening premium of the nearby January contract over the March futures seen as a sign of good nearby demand. ICE January canola settled Wednesday at $882.40 per tonne, a $10.50 per tonne premium over the March contract. That
Fund position switches to net long in canola
Net long in CBOT corn decreases on the week
MarketsFarm — The overall speculative position in the ICE Futures canola market swung from net short to net long during the first week of November, marking the first time speculators were holding more longs than shorts in four months. That’s according to the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures
CBOT weekly outlook: Rising U.S. corn, soy yields ‘a little surprising’
'Somehow the USDA found higher yields'
MarketsFarm — Updated estimates in the U.S. Department of Agriculture’s monthly supply/demand report, released Wednesday, saw larger than expected increases to soybean and corn yield estimates in the country. However, that data did little to move the markets, with the commodities likely stuck in a sideways range for the time being, according to a trader.
Fund short position in canola dips to four-month low
Net long increases in CBOT soybeans
MarketsFarm — Speculators were busy covering short positions and putting on some fresh longs in the canola market during the week ended Nov. 1. That lowered the net short position in the ICE Futures canola market to its smallest level since the beginning of July, according to the latest Commitment of Traders (CoT) report compiled
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